Transitional funding for low-income households living in housing co‑operatives a big relief

The Government of Canada has committed $30 million in the budget to help federally administered social housing providers, including housing co‑ops, to continue to provide rent-geared-to-income housing as existing funding agreements expire. This measure reflects what housing co‑ops asked for in the Co-operative Housing Federation (CHF) “You Hold the Key” campaign.

More than 21,000 households with low-incomes pay an affordable rent because of these federal funding agreements. These include seniors, new Canadians, persons with mental and physical disabilities, Aboriginal people, and lone-parent families.

“We appreciate this assistance and also look forward to working with governments to develop a long-term solution so that low-income households, living in co‑ops and other social housing are protected both now and into the future” said Nicholas Gazzard, President of CHF Canada.

There was also an increase in the Investment in Affordable Housing (IAH) initiative announced in Budget 2016. $500 million over the next two years will be provided to provinces and territories to invest in affordable housing. The initiative extends an invitation to stakeholders to develop a National Housing Strategy.